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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
TRUPANION, INC. is the larger business by last-quarter revenue ($376.9M vs $194.9M, roughly 1.9× Millrose Properties, Inc.). On growth, Millrose Properties, Inc. posted the faster year-over-year revenue change (135.7% vs 11.7%).
Millrose Properties, Inc. is a U.S.-based real estate enterprise primarily focused on the acquisition, ownership, operation, and management of income-generating multi-family residential assets. Its core markets span the U.S. Mid-Atlantic and Southeast regions, and it also offers professional property management services to select third-party property owners.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
MRP vs TRUP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $194.9M | $376.9M |
| Net Profit | $122.9M | — |
| Gross Margin | — | 17.3% |
| Operating Margin | 85.2% | 1.9% |
| Net Margin | 63.0% | — |
| Revenue YoY | 135.7% | 11.7% |
| Net Profit YoY | 208.7% | — |
| EPS (diluted) | $0.74 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $194.9M | — | ||
| Q4 25 | $189.5M | $376.9M | ||
| Q3 25 | $179.3M | $366.9M | ||
| Q2 25 | $149.0M | $353.6M | ||
| Q1 25 | $82.7M | $342.0M | ||
| Q4 24 | — | $337.3M | ||
| Q3 24 | — | $327.5M | ||
| Q2 24 | — | $314.8M |
| Q1 26 | $122.9M | — | ||
| Q4 25 | $122.2M | — | ||
| Q3 25 | $105.1M | — | ||
| Q2 25 | $112.8M | — | ||
| Q1 25 | $39.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 16.4% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | — | 12.8% |
| Q1 26 | 85.2% | — | ||
| Q4 25 | 84.8% | 1.9% | ||
| Q3 25 | 85.3% | 1.6% | ||
| Q2 25 | 85.1% | 0.7% | ||
| Q1 25 | 55.2% | -0.4% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | -1.7% |
| Q1 26 | 63.0% | — | ||
| Q4 25 | 64.5% | — | ||
| Q3 25 | 58.6% | — | ||
| Q2 25 | 75.7% | — | ||
| Q1 25 | 48.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $0.74 | — | ||
| Q4 25 | $0.74 | $0.13 | ||
| Q3 25 | $0.63 | $0.13 | ||
| Q2 25 | $0.68 | $0.22 | ||
| Q1 25 | $0.39 | $-0.03 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $370.7M |
| Total DebtLower is stronger | — | $101.8M |
| Stockholders' EquityBook value | $5.9B | $383.9M |
| Total Assets | $9.6B | $915.0M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $35.0M | $370.7M | ||
| Q3 25 | $242.6M | $348.5M | ||
| Q2 25 | $66.6M | $319.6M | ||
| Q1 25 | $89.5M | $321.8M | ||
| Q4 24 | — | $307.4M | ||
| Q3 24 | — | $293.1M | ||
| Q2 24 | — | $277.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $101.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $383.9M | ||
| Q3 25 | $5.9B | $368.6M | ||
| Q2 25 | $5.9B | $355.5M | ||
| Q1 25 | $5.9B | $333.7M | ||
| Q4 24 | — | $323.3M | ||
| Q3 24 | — | $320.2M | ||
| Q2 24 | — | $305.8M |
| Q1 26 | $9.6B | — | ||
| Q4 25 | $9.3B | $915.0M | ||
| Q3 25 | $9.0B | $880.2M | ||
| Q2 25 | $8.0B | $847.8M | ||
| Q1 25 | $7.2B | $837.2M | ||
| Q4 24 | — | $806.9M | ||
| Q3 24 | — | $816.1M | ||
| Q2 24 | — | $795.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $29.3M |
| Free Cash FlowOCF − Capex | — | $25.3M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.7B | $29.3M | ||
| Q3 25 | $123.1M | $29.2M | ||
| Q2 25 | $109.1M | $15.0M | ||
| Q1 25 | $21.3M | $16.0M | ||
| Q4 24 | — | $23.7M | ||
| Q3 24 | — | $15.3M | ||
| Q2 24 | — | $6.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $25.3M | ||
| Q3 25 | — | $23.9M | ||
| Q2 25 | — | $12.0M | ||
| Q1 25 | — | $14.0M | ||
| Q4 24 | — | $21.8M | ||
| Q3 24 | — | $13.4M | ||
| Q2 24 | — | $4.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 30.05× | — | ||
| Q3 25 | 1.17× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRP
| Option fee revenues | $185.3M | 95% |
| Development loan income | $9.6M | 5% |
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
